1548 Route 9 Unit 7B · Wappingers Falls, NY 12590

$100,000

1 bd · 1.0 ba · 900 sqft · Condo · 154 Days on market

Built 1964 Fair condition $111/sqft · 10% below area Est $111k · 10% under $722/mo HOA · 34% of rent ↓ 17% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.3/30.0
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• Schools +5.3/10.0
• Livability +3.8/5.0
• Rent growth +2.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stop renting and start owning in Wappingers Falls. This one-bedroom co-op is ideal for first-time buyers seeking a prime location near shops, restaurants, and transportation. A practical and affordable opportunity offering comfort, convenience, and long-term potential—bring your vision and make it your own.

Key facts

• $722 HOA
• Garage
• Built 1964

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.5% in Wappingers Falls — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#225 in NY, #3,541 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-, housing A-; Watch: crime C-, amenities C-, schools D+.
• Wappingers Central School District (suburban): math 53% / reading 65% proficiency, ranked #207 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.1%/yr); 205 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.15% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.40%
• DSCR: 1.55
• GRM: 3.9

CMA / ARV

• ARV (median comp): $110,981
• List price: $100,000
• Delta: -9.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-3,621
• Equity at exit: $14,910

10-year hold

• IRR: -1.3%
• Equity multiple: 0.93×
• Total profit: $-1,903
• Equity at exit: $8,646

Cash invested: $28,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12590

• Rents YoY: -1.1%
• Active inventory: 205
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,155 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$722
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $289

Break-even live

Break-even rent $1,789

Max offer price $100,000

Occupancy floor 82%

Sensitivity live

Price	-10% $358	-5% $324	+0% $289	+5% $255	+10% $220
Rent	-10% $119	-5% $204	+0% $289	+5% $374	+10% $459
Rate	-1.0pp $340	-0.5pp $315	base $289	+0.5pp $263	+1.0pp $237

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
799 Sergeant Palmateer Way Unit C12 Wappingers Falls, NY	2.0	1.0	741	$2,300	$3.10	14d	1	0.16mi
5118 Princess Cir Unit Two Bedroom / One Bath Wappingers Falls, NY	2.0	1.0	880	$1,800	$2.05	24d	1	0.18mi
5118 Princess Cir Unit Two Bedroom Wappingers Falls, NY	2.0	2.0	1020	$2,250	$2.21	24d	1	0.18mi
46 N Gilmore Blvd Wappingers Falls, NY	2.0	1.5	864	$2,800	$3.24	44d	1	0.32mi
9 Colonial Dr Unit D4 Wappingers Falls, NY	1.0	1.0	645	$1,600	$2.48	24d	1	0.34mi
10 Market St Unit C Wappingers Falls, NY	2.0	2.0	935	$2,650	$2.83	44d	1	0.66mi
10 Market St Unit B Wappingers Falls, NY	2.0	2.0	1000	$2,700	$2.70	14d	1	0.66mi
10 Market St Unit D Wappingers Falls, NY	1.0	1.0	605	$2,175	$3.60	44d	1	0.66mi
10 Market St Wappingers Falls, NY	1.0	1.0	600	$2,150	$3.58	44d	1	0.66mi
1668 Route 9 Unit 4F Wappingers Falls, NY	2.0	1.0	876	$2,300	$2.63	44d	1	0.70mi
1668 Route 9 Unit 5M Wappingers Falls, NY	2.0	1.0	911	$2,200	$2.41	44d	1	0.70mi
14 Franklindale Ave Unit B Wappingers Falls, NY	1.0	1.0	815	$1,900	$2.33	24d	1	0.70mi
81 Market St Unit 3 Wappingers Falls, NY	2.0	1.0	1065	$2,500	$2.35	14d	1	0.90mi
94 Old Post Rd Unit 15B Wappingers Falls, NY	1.0	1.0	800	$1,700	$2.12	24d	1	1.18mi
5 Wildwood Dr Unit 12C Wappingers Falls, NY	2.0	1.0	840	$2,250	$2.68	44d	1	1.26mi

HOA detail condo

• Monthly dues: $722 · $8,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $100,000 Active 154 DOM
2. 2026-06-17
   days on market $100,000 Active 153 DOM
3. 2026-06-16
   days on market $100,000 Active 152 DOM
4. 2026-06-15
   days on market $100,000 Active 151 DOM
5. 2026-06-14
   days on market $100,000 Active 149 DOM
6. 2026-06-10
   days on market $100,000 Active 146 DOM
7. 2026-06-09
   days on market $100,000 Active 145 DOM
8. 2026-06-08
   days on market $100,000 Active 144 DOM
9. 2026-06-07
   days on market $100,000 Active 143 DOM
10. 2026-06-03
    days on market $100,000 Active 139 DOM
11. 2026-06-02
    days on market $100,000 Active 138 DOM
12. 2026-06-01
    days on market $100,000 Active 137 DOM
13. 2026-05-31
    days on market $100,000 Active 136 DOM
14. 2026-05-30
    days on market $100,000 Active 135 DOM
15. 2026-05-18
    price $100,000 314-char remark

    Show marketing remark (314 chars)

    Stop renting and start owning in Wappingers Falls. This one-bedroom co-op is ideal for first-time buyers seeking a prime location near shops, restaurants, and transportation. A practical and affordable opportunity offering comfort, convenience, and long-term potential—bring your vision and make it your own.

16. 2026-01-15
    listed $120,000 Active 314-char remark

    Show marketing remark (314 chars)

    Stop renting and start owning in Wappingers Falls. This one-bedroom co-op is ideal for first-time buyers seeking a prime location near shops, restaurants, and transportation. A practical and affordable opportunity offering comfort, convenience, and long-term potential—bring your vision and make it your own.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,858
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,069
• − Management: −$2,069
• − HOA: −$8,664
• − Depreciation: −$2,909
• Taxable income: $2,546
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $2,860/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This one-bedroom co-op requires moderate renovations to improve its curb appeal and interior aesthetics, with potential for significant value increase.

Repairs flagged

• Major exterior siding — Weathered brick siding
• Minor interior paint — Slightly faded paint

Value-add opportunities

• Both Painting and updating kitchen cabinets — Improves curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and property value
• Both HVAC system upgrade — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered brick siding	Major	$15,000–50,000
interior paint · Slightly faded paint	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Improves curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑
• Both HVAC system upgrade — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wappingers Central School District
• NCES district ID: 3629880
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 65% ▲ 10.00%
• Median HH income: $83,184
• Composite: 53.38/100
• National rank: #1474
• State rank: #207 of 590 in NY

Livability — Wappingers Falls

• Score: 76/100
• State rank: #225
• US rank: #3541

Category grades

Amenities C- Commute A- Cost of living D Crime C- Employment D Housing A- Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wappingers Falls, NY
• County: Dutchess County · 188,048 people
• City population: 35,712
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 35,712
• Household income: $102,285
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 786.0

Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 18% Two or more races 8% Black 8% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Italian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -411.49%
• Current HPI: 255.2764
• Rent YoY: ▼ -1.08%
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-16.7% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $100,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-15 Listed $120,000 OneKey® MLS as Distributed by MLS Grid